A released by Babson College analyzed 116 businesses started by alumni who graduated between 1985 and 2003. Comparing success measures such as annual revenue, employee numbers and net income, the study found no statistical difference in success between those businesses started with formal written plans and those without them. The study concludes that “unless you need to raise external start-up capital from institutional sources or business angels, you do not need to write a formal business plan.” Do you need a formal Business Plan to start a business? How Successful companies evolve - Continue reading: afterschoolafrica/8858/formal-business-plan-myth/
Posted on: Tue, 28 Jan 2014 14:08:21 +0000
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